Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-01-13
XLIX. CONGRESS.
WASHINGTON, January -, 1897.
Eartafa

Senate.
Mr. lloar, from the Committee on laims.
r,rort,d senate bin to extend the time for
dlue claims M the Court OF claim, under
me French ,poliation act FOR twelve month,
additional, and Oh his motion the bin wa,
considered aLd passed.
Nr. Allison, from the Committee on APP
preparation. reported back the army appro-
uriluon hin with amendments, Ordered to
Ac printed.
The senate then, no l:lj, resumed the
consideration OF the inter state commerce
bin. und wa, addressed 10y Mr.. Call, who
declared his concurrence in the great OBJ
iect, ~ public policy that were sought TO be
carried into eject bl the original bill aud
ly the conference report.
Mr.. lugaJs cXprc-.e ga the hope thu Mr..
ruIlom would not insist on vote to-day.
The debate had developed i'm the press and
other organ, of public opinion feeling u
intense interest, and much had been cN-
pressed which be reruded as profitable ID
those Who were engaged M the cOnsljera-
Jion % The subject.
Mr. can referred to The fact stated in the
work OF Poor (RaiIToad MANUAL that the
equalization Of the roads OF The country
tNc,cGtd their actual cost low three thou
the rates charged for transportation
were to pay interest ANA dividend, on
NIs fictitious aud pretended capital. The
people were now paying an annual tax
of S3CO.UOn GEO on ibis fictitious clpi-
tal. lie could see nothing IN that (u 1t
were permitted 30 continue but the RAIN of
the republic. NO regulation OF interstate
commerce could BE- made that permitted
This enormous annual tax. Did the con-
feru &c report Vropo,etO remedy this evil:
Ii did not On TIE contrary il implicitly
licensed it In falling to provide any
remedy for nc The reasonable rates
sought 90 be established by the bill
should be "reisonabc rates. calcu-
lated ON The amount actually invested
i'm the construction aud operation of rail-
roads. II that could not Doe done, then the
hin was futile. He was I'm favor OF going
much farther than The bill went. lie was
IN favor ol a law declaring that rate the
only reasonable" rate which permitted a
fair return on capital actually invested in
railroads lie would, however, vote for
the Ieuding bin becgu.e It would accom-.
pli>h no great harm, bat he regarded IL rs
no remedy for existing evils and as no
triumph for those who de.ired 10 see inter-
state commerce regulated. Although he
would vote for the bin he would prefer T.
have IL further considered by the confer
enco committee.
Mr.. Brown made an argument in oppo.
,ItiOu 70 the bill. The most Objectionable
features Of the bin were those a. to long aud
short baus and as TO pooling. In regard
10 the tirsl the friends OF The measure dt-
iered among themselves as 10 its true
meaning; while It's opponents were at
loss 20 give II correct Interpretation. Tue
section was uncertain, indefinite, and
doubtful in Is meaning. He did not pro-
pose 10 altemp, TO interpret IL no lly-
ing man knew what its authoritative
Interpretation would be. As 10 its
practical result, however, he had no
doubt from the very necessity OF
the case railroads would be compelled
10 retain their present rates on local freight
sDd 10 increase the rates on long haul, and
this would very seriously cripple the lnter-
change Of commodities between diilereat
sections OF the country. He had no desire
TO predict evil, but he could not be mis-
taken I'm stating that the bill, when put into
operation, would derange both the internal
and foreign commerce OF the country.
As 30 pOOling, be said that practical expo
Ilence had demonstrated the fact that un-
bTdled competition always resulted IN rum
TO railroad companies and TO absolute loss
OF money Invested in their stock, while
II produced no good 10 the public. Whd
the mercantile community wanted was res
sonabIe transportation rates that were uni
form, equal, aud just. Pooling had been
found 10 be the best means OF establish
Ing reasonable rates aud making them
steady and uniform. II prevented consoh.
daiou and monopoly, while unbridied
competition produced both. lie instance1
the esse OF six railroad companies whleh
now covered The territory between the 70
ioomse and Mississippi. Ohio and the
Gun. The prohibition Of their pooling ar.
iangements would end In their unbfldied
composition aud their eventual bankruptcy,
aud one man IN New York could afford
TO pay thirty millions for the con-